anwiii, if it's a new business, bear in mind that most businesses have a 3 year business plan of loss first year, break even second year and only gain profit in the third. Even tech companies struggle to earn profit without a market share!

If he can't afford to pay you (he can't) then his business is already in trouble. You actually have zero options. If you tell him you need the 4500 bucks he won't go for it, and if you want to be the IT Director of a company that has no working capital, you won't get paid either. Also, the website will be company property and sabotaging it will land you in jail. Move on, friend. This guy is a used car salesman.